Keeping your body and your finances fit

For many people these days keeping fit is a very important part of their lives, and with all of the scare stories that we hear about the ill effects of being unfit, overweight, and generally inactive it is not surprising that so many people want to ensure that they get regular exercise and keep their health and their bodies fighting fit.

However, whilst taking part in exercise is a good thing for some people it can also cost a small fortune, and it is therefore necessary for many people to think of ways of exercising without paying out a fortune.

Of course, one of the simplest and cheapest ways to keep fit is simply by going for a brisk walk or a jog on a regular basis, but the trouble with this is that the weather in the UK is not ideal for joggers and you are more likely to end up with a bad cold and chilblains than being fighting fit.

Another concern is that many people work full time, and the last thing that most people want to do when they get home is head out onto the roads to jog, as this can be unsafe apart from anything else.

Joining a gym is another option, and this is a more secure option and one that enables you to exercise indoors. However, gym memberships can be very expensive, and in many cases you need to sign up to a minimum twelve month contract in order to get the most affordable prices which means that you will have to make payments for the contract period whether you continue to go or not.

There are some tips that could help you to save money on keeping fit without having to put up with the bad weather or put your safety at risk. For example, if you want to join a gym see if you can get away with an off peak membership, which is often far cheaper than the peak one. With these memberships you are limited to when you can use the facilities, but if the hours fit in with your lifestyle then this is a good way to save money.

You could look at getting an exercise machine for the home, so that you can exercise in safety at a time that suits you and from the comfort of your own home. There is no need to buy a brand new exercise machine, as these can be very costly. Instead scour the papers or go online to places such as eBay where you may be able to find the perfect exercise equipment at a knock down price.

Many people use DVDs to work out to, with a wide range of exercise videos and DVDs that are now available. You can check out the prices of these online to get the best price, and if you don’t want to buy the DVD you could even check out the local library and hire out exercise DVDs so that you can start getting fit without having to pay anything.

Tags: debts, part, jog, personal finances, finance health, debt free

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Posted in: finances,Keeping

Overstretched finances lead to debt for Midlanders

Over recent years many people from all around the UK have found themselves facing rising levels of personal debt as a result of the difficult financial climate, soaring bills and inflation, and in some cases a reduction in income. One recent report has shown that many people from the Midlands are now struggling with debt and getting deeper into debt as a result of having finances that are severely overstretched.

According to the report many people from the Midlands are no struggling to make their salaries last for the whole month, leaving them with a shortfall between when they receive their monthly wage and when they next get paid. Many of these people, who are having to cope with higher petrol prices to get to work, higher food prices, soaring bills, and spiralling living costs, are having to bridge that gap by borrowing money, either from friends and family or through credit cards, overdrafts, and even payday loans.

Over the past three months around five million people are said to have taken on more debt, which compares to four million people in the previous quarter. In the past twelve months around two million people have taken on more debt specifically to bridge the gap between paydays. This data comes from the insolvency trade body R3.

An industry official from the Midlands said: “It is extremely worrying that such a large percentage of people nationally are struggling to make it to payday and I know from professional experience that this is also the case here in the region. Many local individuals are using short-term loans to cover the gap in their finances. These loans tend to have high interest rates and often those who use this type of credit find themselves in a vicious debt cycle, particularly if they experience a sudden job loss. If individuals are experiencing difficulty in meeting their financial obligations, then it is important that they seek financial advice before taking out further lines of credit.”

Tags: higher petrol prices, Midlands, higher food prices, vicious debt cycle, debt cycle, financial advice, bills, credit cards, gap

Filed under: News

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Posted in: finances,Midlanders,Overstretched

Almost half of Britons expect their finances to deteriorate

Four out of ten Britons expect their financial situation to worsen and nearly half are worried about the amount of debt they have, according to a study by the insolvency trade body R3.

The survey showed that the number of people concerned about the level of debt they are carrying increased by 6% in the last quarter of 2010. Some 45% of those questioned said they were worried about the amount they owe.

Around 43% of people said that they thought their finances would deteriorate over the next six months, 13% more than the last time R3 conducted the same study in October 2010.

The research found that the young are more likely to worry about their financial situation and debt than older people. Some 57% of those aged between 25 and 34 admit to having money worries compared to just 20% of those aged over 65.

Steven Law, R3 president, said: “Since we last carried out the survey, people have seen a rise in the cost of living, from the VAT increase; to the rise of fuel and utility costs. This has happened against a backdrop of pay freezes, pay cuts and, in some cases, redundancies, so it is understandable that many are feeling pessimistic about their financial outlook.

“In my experience, most people’s debts become unmanageable due to a change in circumstance, such as sudden unemployment. This no doubt accounts for the generational split with regards to debt worries. In these uncertain times, for many of those of working age there is a real fear that if they do suddenly lose their job they will struggle to keep up with their debt repayments.”

Around 53% of respondents said they were worried about the amount of money outstanding on their credit cards. Overdraft facilities and mortgage repayments were shown to be troubling 27% and 25% respectively.

Some 25% of those questioned are currently saving less than they would under normal circumstances and just over a fifth say they are putting off big financial decisions.

An interest rate rise would cause problems for mortgage holders struggling with their monthly repayments with 28% of homeowners saying they could not afford an increase of £100.

Mr Law suggested that the findings might not solely be down to the current economic outlook and could be seasonally distorted: “Christmas is a time of heavy spending for many individuals so it is perhaps not surprising that the number of people concerned about their debts has increased since last quarter.

“Many people in Britain are already under pressure due to credit card debts, overdrafts and loans, and many have had to rely on these forms of credit to fund Christmas spending. This could explain why concerns about these types of debts have increased since previous quarters and why individuals have taken on more debts over the last few months.”

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Posted in: Almost,Britons,deteriorate,expect,finances,their

Credit card debt could decline as people try to take control of finances

The number of people facing debt problems because of overspending on a credit card may decline as consumers are turning to debit and prepaid cards instead.

According to Keith Harrington, managing director at Global Prepaid Exchange, which offers services to the industry, credit card usage is declining.

He said: "Credit cards are on a decline because people are trying to manage their finances better and not incur charges.

"Debit cards are increasing, but prepaid card are rapidly increasing because people are seeing so many opportunities [with them]."

This could suggest that Brits are starting to realise that using a credit card can be risky in terms of accruing debt and possibly needing a debt solution in the future.

Mr Harrington also claimed that consumers are now starting to use prepaid cards, which are uploaded with cash and can be used in specific stores.

Research by his firm, which was released on February 7th, found that 2011 will experience a boom in innovative payment methods.
Wed, 23 Feb 2011
Brits concerned about their debt problems, which have been accrued through borrowing on a credit card, may want to consider using a zero per cent balance transfer card... Tue, 22 Feb 2011
Around 430,000 students will be given a manual about how to manage their money and avoid debt problems in the process.

Finance charity Credit Action intends to give its guide on student finance to young people planning to attend university in the 2011/2012 school year.

The average student is expected to graduate with debts amounting to more than £23,000 so the charity has created a guide to inform youngsters about the financial support available, how to budget and how to save money.

This could help would-be students learn how to stay in control of their money and help them avoid debt problems while at university.

Joanna Parsley, associate director of Credit Action, said: "Getting this information and guidance into students' hands before they begin university is key as it allows them to prepare financially, so their university experience can get off to a smooth start."..

Mon, 21 Feb 2011
Consumers living with debt problems may want to sign up for the broadband and phone package that Talk Talk is introducing... Fri, 18 Feb 2011
Couples that are going through financial difficulties and seeking debt advice need to be "open and honest" with one another...

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Posted in: control,could,Credit,decline,finances,people